Superstition and Financial Decision Making Current draft: March 2016
نویسندگان
چکیده
In Chinese culture, certain digits are lucky and others unlucky. We test how such numerological superstition affects financial decision in the China IPO market. We find that the frequency of lucky numerical stock listing codes exceeds what would be expected by chance. Also consistent with superstition effects, newly listed firms with lucky listing codes experience inferior post-IPO abnormal returns. Further tests suggest that our conclusions are not driven by endogeneity.
منابع مشابه
Superstition and Financial Decision Making
In Chinese culture, certain digits are lucky and others unlucky. We test how such numerological superstition affects financial decision in the China IPO market. We find that the frequency of lucky numerical stock listing codes exceeds what would be expected by chance. Also consistent with superstition effects, newly listed firms with lucky listing codes are initially traded at a premium after c...
متن کاملThe Effects of the CEO’s Perceptual Bias in Economic Decision-Making and Judgment on the Capabilities of the Financial Reporting Quality
The current research sets out to identify and scrutinize the impact of the CEO’s perceptual biases in judgment and economic decision-making on the reporting quality of the firms listed on the Tehran Stock Exchange. Adopting a mixed method, the present study first seeks to detect the components and indices of CEO’s perceptual biases via critical appraisal and with the special participation of 10...
متن کاملFinancial decision-making abilities and financial exploitation in older African Americans: Preliminary validity evidence for the Lichtenberg Financial Decision Rating Scale (LFDRS).
This study examines preliminary evidence for the Lichtenberg Financial Decision Rating Scale (LFDRS), a new person-centered approach to assessing capacity to make financial decisions, and its relationship to self-reported cases of financial exploitation in 69 older African Americans. More than one third of individuals reporting financial exploitation also had questionable decisional abilities. ...
متن کاملThe Relationship Between Organizational Culture and Managers' Decision Making Style
If you consider different activities of managers, it can be seen clearly that decision making is the essence of all management activities. Decision making is counted as integral components of management and is manifested somehow in any management duty. On the other hand, organizational culture is a pattern from fundamental default that a special group created it in the solution of problems to c...
متن کاملUsing Accounting Information in Decision Making of Hospitals Managers
Decision making process requires information. Accounting is the most important source of information. In 1998, the international federation of accountants issued a statement about the scope and using of accounting. It identified 4 stages for using accounting information: cost determination, planning and financial control, reduction of resources waste and creation the value. This study was desig...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 2016